Parliament to probe Maldive Gas advance payment loss

State-Owned Enterprises (SOE) Committee of Parliament has launched an investigation into the loss of MVR 3.7 million paid in advance by Maldive Gas to a Dubai-based supplier for the purchase of gas.

The issue was submitted to the committee by Maavah MP Ahmed Shakir, who described the missing advance payment as a serious allegation involving a government-owned company. In his submission, Shakir said the funds have yet to be recovered and called for a formal investigation into the matter.

During its meeting, the SOE Committee unanimously decided to seek a written response from State Trading Organization (STO), the parent company of Maldive Gas.

The motion to request information from STO was submitted by Deputy Speaker of Parliament and Dhigurah MP Ahmed Nazim, who said STO should be questioned due to its oversight responsibility. The motion was supported by Maafannu North MP Mohamed Nazim.

While the committee discussed the issue, no resolution or decision was passed at the meeting beyond requesting further information.

Maldive Gas paid MVR 3.7 million equivalent to 30 percent of the shipment value as an advance payment to Jaksha Energy, a Dubai-based company, in October 2024.

At the time, Maldive Gas stated it was preparing to take legal action after failing to receive either the gas shipment or a refund of the advance, despite repeated discussions with the supplier. However, it remains unclear whether any legal action has since been initiated or if the funds have been recovered.